European stock markets are currently experiencing declines as investors adjust their positions ahead of significant macroeconomic data and the upcoming U.S. vote on November 5.

Paris and Milan have both dropped by 1%, London has seen a decrease of 0.5%, and Frankfurt is down by 0.4%. On the other hand, New York futures are slightly up, thanks to positive earnings from Alphabet.

Among European stocks, UBS has gained 1.3% following strong financial results, while Volkswagen has risen 1.7% after exceeding expectations. However, Campari has experienced a sharp decline of 16% due to disappointing third-quarter results. Other notable losses include STM at -2.5%, Prysmian at -2.3%, and Moncler at -2.2%.

The energy and utility sectors are holding steady, supported by a 1% increase in oil prices, with WTI trading at $67.9 per barrel. Despite better-than-expected GDP growth figures from Germany, France, and Spain, market sentiment remains cautious as investors await Eurozone growth data and U.S. economic indicators later in the day.

Government bonds have shown little movement, with the spread between BTP and Bund widening by one basis point to 123, while the yield on Italian bonds remains stable at 3.56%.